St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-09-10
STATE OF TRADE.
The Customary Weekly Reviewof
the Commercial Situation. is


NEW YORK, Sept. Or. G. Dun, &
Co., in their weekly review of trade,
say: Commerce and industry have i'm
proved while speculation has Slackened..
A very different result was expected
when it was announced a week ago
that a syndicate had undertaken to
raise $4,000. 200 for the Baltimore 81
Ohio and to establish harmony between
trunk lines. AT first stocks rose quickly,
an average of "a a share, but soon, tt
was seen that the borrowing of millions
by great company did not necessarily
mean or bring prosperity; heavy de-
clines in Baltimore g. Ohio and other
stocks affected by the Ives failure fol-
lowed; and gradual reaction toward
lower prices and speculative inactivity
has continued this week. On the other
hand, evidence appears of decided inn
provement in legitimate business, with
larger sales, larger production and
more wholesome feeling, even in
branches lately most depressed. The
improvement in the wooden goods trade
is clearly marked, though that trade
cannot yet be called active. Lower
prices for wool encourage manufactur-
ers, and the demand for goods is broad
ening. Distribution of cottons con-
tinues large, with especial demand for
the best qualities, and manufacture is
relieved from fear of speculative corn
ers In material, the new crop being UNI
doubtedly a large one, though below
early estimates. Iron furnaces of 1885,
725 tons capacity were in blast Sept. l,
the largest output yet reported;
the increase since year
ago is 14.2 per cent. Dishearten-
ment in some quarters, lest an output
far surprising the consumptive demand
should depresS prices, is met by the fact
that the best grades are scarce and well
sustained, though in other grades and
brands not well known weakness ap-
pears. The mills in which iron is
worked into forms for use are generally
pressed with orders; bar iron has a
good demand, the orders for sheet, tank
and plate iron press works to their full
est capacity, makers of structural iron
are crowded, and the nail business Is
slightly better. In steel rails, though
even the Thomas company sells at $50
for winter delivery, and the yielding in
prices diSheartenS some makers, there
is general disposition to shut out
foreign products, and facilities for pro-
ducing at lower cost are steadily in
creasing.
Wheat speculation seems to have gone
1IllO UdllhIuptCy3 otdS ildItOli IuiluS III
spite of the reduction in Liverpool
freight rates to 19d. The price has
lifted only sd the past week, while corn
and oats have risen re, pork 25c per
barrel and lard 10c per 100 pounds. Oil
has advanced sc in belief that producers
will succeed In limiting the supply.
Sugar shows tendency to boom, hav-
ing risen 18c per 100 pounds, while coffee
is &c weaker, high rates for money
affecting Brazil holders. Copper Is
weaker with the opening Of the Calumet
and Hecla mines, and beef with heavy
shipments from the West. Large offer
ingS of tea at auction resulted in mOder-
ate prices, and the rice market is Inn
are very liberal, and prices for grades
under extra are irregular. Evidence of
general improvement comes from nearly
all cities. Remarkably heavy distribt-
ton Of hardware and farmers supplies
at Chicago and St. Louis, with activity
of banks, not from speculative demands,
and reports of formidable increase in
shipments by the railroads from this
city, promise satisfactory returns of
fall trade. Money is generally active at
interior points and collections fair. The
large supplies of money from Europe
already received and on the way, clear
off heavy loans which have tied up home
capital, and thus promises much relief.
Failures at New Haven and Philadel-
phia have involved some minor houses,
but do not indicate especial weakness in
any particular branch of trade. For the
present the signs favor large and
profitable fall business, unless monetary
stringency should interrupt. The bust
ness failures during the last seven days
number for the United States 15a, for
Canada %, a total of 174, compared with
week last year.